Annual report pursuant to Section 13 and 15(d)

Revenue Recognition (Notes)

v3.24.0.1
Revenue Recognition (Notes)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue Recognition
    
The following tables present the Company's revenue in categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors:
Year Ended December 31, 2023
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 1,881.7  $ 852.6  $ 573.0  $ 1,548.8  $ 4,856.1 
Europe 367.0  108.7  221.2  162.9  859.8 
Asia-Pacific 201.7  103.2  79.6  32.0  416.5 
Canada 93.1  83.2  19.4  206.8  402.5 
Rest-of-World 220.3  52.1  21.5  38.9  332.8 
Segment Eliminations (357.3) (7.1) (101.2) (0.7) (466.3)
Total $ 2,406.5  $ 1,192.7  $ 813.5  $ 1,988.7  $ 6,401.4 
Major Product Lines
Outboard Engines $ 2,198.9  $ —  $ —  $ —  $ 2,198.9 
Controls, Rigging, and Propellers 391.6  —  —  —  391.6 
Sterndrive Engines 173.3  —  —  —  173.3 
Distribution Parts & Accessories —  691.8  —  —  691.8 
Products —  508.0  —  —  508.0 
Navico Group —  —  914.7  —  914.7 
Aluminum Freshwater Boats —  —  —  726.0  726.0 
Recreational Fiberglass Boats —  —  —  643.0  643.0 
Saltwater Fishing Boats —  —  —  472.8  472.8 
Business Acceleration —  —  —  167.6  167.6 
Boat Eliminations/Other —  —  —  (20.0) (20.0)
Segment Eliminations (357.3) (7.1) (101.2) (0.7) (466.3)
Total $ 2,406.5  $ 1,192.7  $ 813.5  $ 1,988.7  $ 6,401.4 
Year Ended December 31, 2022
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 1,909.9  $ 922.1  $ 691.8  $ 1,617.0  $ 5,140.8 
Europe 391.5  117.5  236.3  181.8  927.1 
Asia-Pacific 223.0  117.4  98.0  35.7  474.1 
Canada 114.2  100.8  27.8  251.7  494.5 
Rest-of-World 185.4  52.4  15.4  33.2  286.4 
Segment Eliminations (398.3) (7.6) (104.5) (0.3) (510.7)
Total $ 2,425.7  $ 1,302.6  $ 964.8  $ 2,119.1  $ 6,812.2 
Major Product Lines
Outboard Engines $ 2,221.5  $ —  $ —  $ —  $ 2,221.5 
Controls, Rigging, and Propellers 382.1  —  —  —  382.1 
Sterndrive Engines 220.4  —  —  —  220.4 
Distribution Parts & Accessories —  781.7  —  —  781.7 
Products —  528.5  —  —  528.5 
Navico Group —  —  1,069.3  —  1,069.3 
Aluminum Freshwater Boats —  —  —  874.1  874.1 
Recreational Fiberglass Boats —  —  —  727.4  727.4 
Saltwater Fishing Boats —  —  —  404.3  404.3 
Business Acceleration —  —  —  126.0  126.0 
Boat Eliminations/Other —  —  —  (12.4) (12.4)
Segment Eliminations (398.3) (7.6) (104.5) (0.3) (510.7)
Total $ 2,425.7  $ 1,302.6  $ 964.8  $ 2,119.1  $ 6,812.2 

Year Ended December 31, 2021
(in millions) Propulsion Engine P&A Navico Group Boat Total
Geographic Markets
United States $ 1,641.9  $ 947.4  $ 469.1  $ 1,259.1  $ 4,317.5 
Europe 376.8  134.3  146.9  162.5  820.5 
Asia-Pacific 236.9  134.6  47.1  32.8  451.4 
Canada 102.0  104.6  16.5  217.1  440.2 
Rest-of-World 147.1  50.8  8.7  31.6  238.2 
Segment Eliminations (337.5) (5.1) (79.0) —  (421.6)
Total $ 2,167.2  $ 1,366.6  $ 609.3  $ 1,703.1  $ 5,846.2 
Major Product Lines
Outboard Engines $ 1,935.1  $ —  $ —  $ —  $ 1,935.1 
Controls, Rigging, and Propellers 352.4  —  —  —  352.4 
Sterndrive Engines 217.2  —  —  —  217.2 
Distribution Parts & Accessories —  820.1  —  —  820.1 
Products —  551.6  —  —  551.6 
Navico Group —  —  688.3  —  688.3 
Aluminum Freshwater Boats —  —  —  712.4  712.4 
Recreational Fiberglass Boats —  —  —  571.6  571.6 
Saltwater Fishing Boats —  —  —  371.9  371.9 
Business Acceleration —  —  —  60.1  60.1 
Boat Eliminations/Other —  —  —  (12.9) (12.9)
Segment Eliminations (337.5) (5.1) (79.0) —  (421.6)
Total $ 2,167.2  $ 1,366.6  $ 609.3  $ 1,703.1  $ 5,846.2 
As of January 1, 2023, $178.5 million of contract liabilities associated with extended warranties and customer deposits were reported in Accrued expenses and Other Long-term liabilities, of which $61.8 million of this amount was recognized as revenue during year ended December 31, 2023. As of December 31, 2023, total contract liabilities were $187.1 million. The total amount of the transaction price allocated to unsatisfied performance obligations as of December 31, 2023 is $183.6 million for contracts greater than one year, which includes extended warranties. The Company expects to recognize approximately $60.7 million of this amount in 2024 and $122.9 million thereafter. Contract assets as of January 1, 2023 and December 31, 2023 were not material. In addition, costs to obtain and fulfill contracts during the period were not material.